Colorado church group issues Stone Coin to raise $2.5 million to buy church

A network of affiliated church organizations called Colorado House of Prayer tokenized its main church in an attempt to purchase the $2.5 million building. Pastor Blake Bush, who led the project, said he was driven by a higher power to use blockchain technology as a tool to advance the organization's mission. The 11,457-square-foot building, known as the "Old Stone Church" for its stone exterior, was purchased by the current owner in 2022 for $2.2 million. Bush and the Colorado House of Prayer organization intended to purchase the building for $2.5 million. Bush said he came up with the idea to tokenize the building after a spiritual experience. To fulfill his mission, Bush and the organization created "Stone Coin" to raise funds to purchase the church. The token is tied to a real estate token created by REtokens and runs on the Polymesh private blockchain. (Cointelegraph)